Philippines Revamps International Co-Production Fund With Minority and Majority Tracks, Unveiled at Busan Market

The Philippines has introduced a restructured framework for its International Co-Production Fund (ICOF), aiming to bolster collaborative film ventures involving Filipino producers and international partners. The refreshed fund was officially presented at the Asian Contents & Film Market during the Busan International Film Festival, signaling a strategic push to enhance the country’s footprint in global cinema.

Central to the revamped ICOF are two distinct funding categories—the Majority Track and the Minority Track—each designed to accommodate varying degrees of Filipino involvement in co-produced projects. The Majority Track targets initiatives where Filipino producers hold the leading role alongside foreign collaborators. Projects qualifying under this category can access substantial financial backing, with feature films and series eligible for up to PHP 13 million (approximately US$210,000) and documentaries or shorts capped at PHP 5 million (around US$80,000).

Eligibility for the Majority Track requires Filipino stakeholders to maintain at least a 20% ownership share and to be the largest single partner in the project. Moreover, the Filipino contingent must occupy significant creative positions, mandating at least two key above-the-line roles such as director, writer, or actor, complemented by five additional Filipino professionals in vital creative or technical capacities. Applicants must also present clear strategies for distributing their works both domestically and internationally. Foreign collaborators, while holding minority stakes, are expected to contribute meaningfully in creative or technical aspects.

The Minority Track, meanwhile, supports projects where Filipino producers assume a subordinate role, with a minimum ownership stake of 10%. Financial assistance under this stream offers up to PHP 7 million (about US$113,000) for features and series, and PHP 3 million (roughly US$48,000) for documentaries and shorts. The requirements here are somewhat relaxed; Filipino producers need to involve either two key above-the-line Filipino talents or three pivotal Filipino crew members in creative or technical roles. Like the Majority Track, an international release plan is also necessary.

Both tracks provide additional incentives to encourage ASEAN regional collaborations and culturally significant storytelling. Qualifying projects may receive top-up funds—PHP 1 million (circa US$16,000) for ASEAN co-productions and up to PHP 2 million (approximately US$32,000) for those passing a cultural test that aligns with Philippine heritage and values. These amounts are indicative and subject to currency fluctuations.

Oversight of the ICOF falls under the Film Philippines Office (FPO), a division of the Film Development Council of the Philippines (FDCP), which operates under the direct auspices of the Office of the President. Besides managing co-production incentives, the FPO facilitates government permits, recommends filming locations, and offers incentives for post-production and line production services.

The country’s revamped strategy builds on a proven record of international festival recognition for Filipino co-productions. Recent successes include the animated feature "Another World," co-produced with Hong Kong and Singaporean partners, which claimed best animated feature at the 62nd Golden Horse Awards in late 2025. Other notable accolades include Janus Victoria’s debut "Diamonds in the Sand," honored at Udine’s Far East Film Festival; Marianne Métivier’s "Elsewhere at Night," winner of best screenplay at Torino; and multiple honors for films supported by the Film Location Incentive Program, such as Rafael Manuel’s "Filipiñana," which earned a special jury award at Sundance.

The updated ICOF framework reflects the Philippines’ commitment to nurturing its film industry’s global engagement by incentivizing diverse roles for Filipino creatives and fostering cross-border partnerships. By differentiating funding based on ownership and participation, the policy aims to attract a broader spectrum of international collaborators while ensuring meaningful Filipino cultural and creative input.

As the global media landscape evolves, this dual-track fund may serve as a model for other countries seeking to balance national cultural promotion with the economic benefits of international co-productions. Details on application procedures and future funding cycles remain forthcoming as the FPO continues to refine its support mechanisms for the Philippine film community.